EUR – Prevailing Sentiment Will Test Ranges

The EUR lost ground to the USD as it range traded back to the lower realms of it short term value. There was no major economic data from the continent yesterday and today only the German PPI will be brought forth. Investors are likely to focus on quarterly earnings and outlooks from the corporate front. The European economic outlook faces challenging questions regarding growth in what appears to be an environment that is turning downbeat. The German ZEW Economic Sentiment report from earlier this week highlighted that sentiment is fragile. Tomorrow will be void of government data and traders are likely to try and take advantage of the prevailing winds.